India's ICICI Pru Life set to file for nearly $750 million IPO: sources

July 15, 2016 7:43 AM

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MUMBAI India's ICICI Prudential Life Insurance Co Ltd (ICIR.NS) is set to file for an initial public offering of shares valued at about 50 billion rupees ($746 million) as early as Friday, three people with direct knowledge of the matter said.

ICICI Pru Life is a joint venture between India's ICICI Bank Ltd (ICBK.NS), which owns nearly 68 percent, and Britain's Prudential PLC (PRU.L), with nearly 26 percent. The remainder is held by billionaire Azim Premji's Premji Invest and Singapore state investor Temasek [TEM.UL].